There's A Triangle-Shape Forming In The Copper Chart And It's Bearish For Prices

In prior posts we’ve noted copper is key to divine where the Chinese and global economy are headed. It was down almost 2 percent today and at key short-term support and its 200-day moving average. It’s tracing out a descending triangle chart pattern, which usually resolves in a bearish move. If 3.70 on the nearest contract breaks, one more reason to play better defense.